Common use of Single Audit Clause in Contracts

Single Audit. Contractors that are a non-profit organization and that expend $750,000 or more in federal awards during the Contractor’s fiscal year, must submit a Single Audit to the Department, regardless of the amount of funding received from the Department. The Single Audit must comply with the requirements of Title 2 Code of Federal Regulations, Subpart F.

Single Audit. Contractors that are a state, local government, or non-profit organization and that expend $750,000 500,000 or more in federal awards during the Contractor’s fiscal year, year must submit a Single Audit to the Department, regardless of the amount of funding received from the Department. The Single Audit must comply with the requirements of Title 2 Code the Single Audit Act Amendments of Federal Regulations1996, Subpart F.and Office of Management and Budget (OMB) Circular A-133, “Audits of States, Local Governments, and Non-Profit Organizations,” as revised.